Muskegon Sun

On Wednesday, the Michigan Senate approved Rep. VanWoerkom's economic development plan, which aims to support economic risk-takers and push Michigan forward. The plan includes the establishment of the Research and Development Tax Credit program, a move that received bipartisan support with the approval of House Bills 4368 and 5099-5102.

Representative VanWoerkom, from Norton Shores, expressed his enthusiasm for the plan, stating, “The goal is to keep good-paying jobs in Michigan and bring in new, long-standing opportunities in the fields of the future – that’s what this plan will do. Not only will it strengthen our local economy today; it will also help create new jobs in our community for years to come. I’m pleased my Senate counterparts see the value in this plan.”

VanWoerkom highlighted the importance of supporting economic risk-takers, emphasizing that they play a crucial role in advancing the state. He said, “Economic risk-takers push our state forward; helping us achieve local progress and opportunity. When we support them, we strengthen our communities and all of Michigan.”

The approved plan represents a shift from a previous proposal by Michigan Democrats, which focused solely on new jobs and selective industry benefits. Rep. VanWoerkom's negotiation efforts led to a revised plan that offers incentives to local businesses to retain existing R&D jobs in Michigan and ensures broader access to the program for all businesses.

The successful passage of this economic development plan signals a positive step towards enhancing Michigan's economy and fostering long-term growth opportunities for the state.